THE IMPACT OF CRYPTOCURRENCY PHOBIA IN THE DIGITAL MARKET TRADING

Hello to everyone in this great community today and on this wonderful platform at large. I greet you all in good spirit and I want to believe that we all are doing just great today and if so we give God the praise for the sustenance of life and good health.

I welcome you all to yet another beautiful day in this week and I want to believe that we are having a pleasant and productive week so far. Again I want to believe that we all are having a stress-free day.

Today I am here again this day to discuss with you all regarding an interesting topic which I have come up with and this teaching is tagged THE IMPACT OF CRYPTOCURRENCY PHOBIA IN THE DIGITAL MARKET TRADING. This is going to be a great discussion, and as such, I urge you all to sit tight and relax as I begin the discussion for today. I wish you a happy reading!

---

In the digital currency market, there are a lot of opportunities and these opportunities can be acquired by certain individuals with the understanding of how the digital currency market operates as such, care is always advisable in other to stay safe in the cryptocurrency market.

Source

Before one becomes an investor or an expert in trading, it is expedient that proper research is carried out and good teachings regarding the digital currency market is acquired for the purpose of making mistakes that may lead to loss of capital and funds in the digital currency market.

Shortly we will be looking at the above topic ad we go further but before we proceed, it is expedient that we understand certain terms regarding today's discussion and this term is considered to be PHOBIA.

WHAT IS CRYPTOCURRENCY MARKET PHOBIA

The word PHOBIA is considered as a short form of the statement known as Fear regarding cryptocurrency. Phobia is seen as the scenario by which an individual become anxious regarding a particular thing as he portrays an attribute of fear about not achieving something at a particular point in time.

Source

Phobia has caused a whole lot of damages especially on traders and investors and this does not just affect those in the cryptocurrency space but also other individuals in various ramifications of life. The fear of missing out has contributed to many falls of men and to tomorrow, it is still seen in all areas.

This has caused many individuals to lose funds, properties and other vital assets. The fear of missing out prompts many wrong decisions that has resulted to a dead end in one way or the other.

Well phobia is not all bad as we get to see individuals that have succeeded via such medium. Sometimes phobia prevent us from getting harmed but the number of those that have succeeded is quite lesser to those that failed via phobia. Just as we all know, everything has an advantage and a disadvantage.

Now it is important that we return to the main discussion of the day which is fomo in the digital currency market.

PHOBIA IN THE DIGITAL CURRENCY MARKET

The word phobia has sent off many cryptocurrency traders, investors out of the cryptocurrency space for good. You might be wondering how is this possible? There are a lot of traders we see today coming on to the digital currency market just to execute trades.

These trades can either be Spot trades or futures trade and either of them has led many traders home as a result of phobia. Let us take an instance of the LUNC when it was going down, many spot traders purchased it with the mindset of earning profits when it returns back to it previous price but to date, it is still down ans has not returned back to the price it was before.

Source

Many traders rush into the market to trade a digital currency at the sight of a particular trend movement regarding the said asset even without making a fundamental analysis just because they also want to be a partaker of those that will profit from that market and when that market eventually retraces it movement back to the previous movement, those traders will then be at loss in which most of them take a longer time to recover.

Phobia is contagious and it takes an experienced trader to see a particular trend and not follow because he or she understands the market and that movement may probably be initiated by the strong hands just to prey on little and ignorant traders in the market who are desperate to make profits in no time without analyzing the market properly.

---

CONCLUSION

As a trader, you need to understand the cryptocurrency market so that you don't get all caught up with the market as a result of fomo. A good technical analysis is always advisable and required whenever you want to execute a trade in the market.

Source

Be it a spot trade or futures trade, be it a buy entry or a sell entry. They are requires you to make a good fundamental analysis of the market in other to know what trade and entry is perfect to be executed as at that point in time. This is to minimize losses and maximize profits while trading in the digital currency market.

Thank you all for having me today and I hope this discussion was beneficial to you all. It was nice to have you here too. I will be seeing you around but for now I say goodbye!